Vaculug accepting Bitcoin & Ethereum as payment

Probably a world first for Vaculug – Europe’s largest independent retreader will now accept Bitcoin and Ethereum for all payments for tyres and related services. Vaculug will also sign its PPK and PPV fixed price contracts in CPK (Crypto per Kilometre) and CPV (Crypto per Vehicle) formats if customers want to fix or link their contracts to the price of Bitcoin or Ethereum.

Announcing this new currency option, Vaculug’s IT manager Jason Humphries commented that “Blockchain technology is not the future, but the now.” He adds: “We believe that all companies will have to accept Cryptocurrencies in the near future and we are proud to be the first retreader to do so.

“We believe that being a customer-centric company we must move with the times and offer our customers more options than just pounds and pence,” Humphries continues. “Moreover, this lowers the cost of transactions for all parties involved and provides more value to our customers.”

Sam Dunross, chief executive officer of Dunross and Chan Limited, comments: “We are proud to have partnered with Vaculug to develop the modules required for their industry leading VMS management system to be able to receive secure payments through the blockchain. We have worked with specialist Israeli cybersecurity firms to develop the platform which we believe is the most secure in the industry.”